Jovian Announces Closing of Sale of ETF Business to Mirae Asset Global Investments

TORONTO, Nov. 14, 2011 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV) is pleased to announce that, further to the announcement of July 15, 2011, it has completed the sale of Jovian's exchange traded funds ("ETF") business (the "Transaction") to Mirae Asset Global Investments Co., Ltd. ("Mirae"). Following all post-closing working capital calculations, Jovian's portion of the final purchase price is anticipated to be approximately $90 million for Jovian's approximately 58% interest in Horizons ETFs Management (Canada) Inc. (formerly BetaPro Management Inc.) and its applicable subsidiaries and affiliates (the "Business"), subject to possible upward or downward adjustment within approximately 135 days following closing.  Jovian's interest in Hahn Investment Stewards & Company Inc. ("Hahn"), a global wealth manager of ETF portfolios for private and institutional investors, is not part of the Transaction.

"Since our initial investment in 2006, we have seen the Business flourish and grow into a significant player in the industry," said Philip Armstrong, C.E.O. of Jovian.  "This transaction represents a substantial return on our investment and is consistent with our mandate to create value for our shareholders.

In addition to Hahn, Jovian's portfolio consists of traditional asset management companies Leon Frazer & Associates Inc. and T.E. Wealth, and wealth management company MGI Securities Inc.

About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies specializing in two primary market segments: wealth management and traditional asset managers. The Jovian group of companies (MGI Securities Inc., MGI Securities (USA) Inc., T.E. Wealth, Leon Frazer & Associates Inc., Hahn Investment Stewards & Company Inc., JovFinancial Solutions Inc. and JovPortfolio Management Inc.) manages approximately $6.0 billion of client assets ($4.5 billion in assets under management and $1.5 billion in assets under administration).  Additional information is available at www.joviancapital.com and www.sedar.com.

SOURCE Jovian Capital Corporation

For further information:

Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752.

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Jovian Capital Corporation

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